The good life of new landord

Wednesday, July 17, 2013 11:05 AM

OutcomesMTM is enjoying its experience as a new landlord after buying previously bank-owned 505 Market St. in the Village of Ponderosa in West Des Moines. The company, which is based in the building, recently signed a five-year lease with Morgan Stanley, which occupies the entire third floor. OutcomesMTM and Morgan Stanley have each been in the building for three years. OutcomesMTM bought the building out of foreclosure after the collapse of the Ladco development companies and the bankruptcy of founder Jon Garnaas. "We are happy to have the second and third floors filled with long-term leases and eagerly await whomever will become the tenant of the prime space available on our first floor," OutcomesMTM CEO Tom Halterman said in an email. Not one to miss a beat to express pride in his building, Halterman also pointed out that "the 505 Market building has optimal parking right up to the building, granting easy access to clients. In addition, current tenants enjoy the lush greenery, fountain-filled ponds and the bridge located just steps away from the building's front door, which make a day at the office feel particularly scenic."